decision making Flashcards
what is Intuition
Information is accepted on “Gut feeling”
what is Tenacity
Information is acepted as true because it has always been believed (superstition)
what is authority
relying and trusting information from an expert in the subject area
what is personal experience
“let me tell you what happened to me”
what is rationalism
we seek answers by applying logical reasoning to a known set of facts
what is the scientific method
obtained knowledge through careful observation an prudent interpretation of data
what are the way’s of “knowing”
Scientific method
personal experience
rationalism
intuition
authority
tenacity
what is the path to influence
Understand > Predict > Facilitate > Influence
what is part of understanding
oneself
others
enviornment
change
what is part of predicting
options
outcomes
what is part of facilitating
structure
expectations
rewards
accountability
what is part of influence
change others
change process
change value
what is perception
a process by which individuals organize and interpret their sensory impressions in order to give meaning to their enviornment
what is the definition of problem
a perceived discrepancy between current and desired state
what is the definition of decisions
choices made from among alternatives developed from data perceived as relevent
define decision making
the process of generating and choosing from a set of alternatives to solve a problem
what is a rational decision making model
how individuals should behave in order to maximize some outcome
what are the steps in the rational decision making model
define the problem
identify the decision criterea
allocate weights to the criteria
develop alternatives
evaluate the alternatives
select the best alternative
what are some organizational constraints on decision makers
performance evaluation
reward systems
formal regulations
system-imposed time constraints
historical precedents
what are the ethical decision making criteria
utilitarianism
rights
justice
define utilitarianism
seeking the greatest good for the greatest number
define rights
respecting and protecting basic rights of individuals such as whistleblowers
define justice
imposing and enforcing rules fairly and impartially
what is decision making bias
cognitive or emotional influences that modify the weight of information and options
what is perspective taking in decision making
an attempt to put themselves in the shoes of another
what is the halo effect
drawing a general impression about an individual on the basis of a single characteristic
what is contrast effects
evaluation of a persons characteristics that are affected by comparisons with other people recently encountered who rank higher or lower on the same characteristics
what is projection
attributing ones own characteristics to other people
what is stereotyping
judging someone on the basis of ones perception of the group to which that person belongs
what is overconfidence bias
believing too much in out own ability to make good decisions
what is anchoring bias
using early, first received information as the basis for making subsequent judgement
what is confirmation bias
using only facts that support our decision
what is escalation of commitment
in spite of new negative information, commitment actually increases
what is randomness error
creating meaning out of random events
what is hindsight bias
looking back, once the outcome has occurred and believing that you accurately predicted the outcome of an event
